By Dominic Welling
Mexico’s biggest airport operator, Grupo Aeroportuario del Sureste (ASUR), saw profits fall 2.4% in the first quarter of 2011, due to higher taxes and a decline in passenger numbers.
ASUR – the operator of Cancun Airport and eight other airports throughout southeast Mexico – reported net profit of $35.3 million in the January-March period, compared with $37 million in the first quarter of 2010.
In its results for the first quarter of 2011, ASUR said that passenger numbers also dropped 1.32% over the three months, which it attributed to the later timing of Easter this year.
Domestic passenger numbers were down 3.35% since the start of the year, while international passenger traffic dropped 0.31%.
ASUR said that this was partly due to the fact that during 2010 Holy Week fell in March whereas this year it fell later in April.
Meanwhile, total revenues for the combined airports also decreased 0.17% in the first three months of 2011.
Increases in both aeronautical revenues (2.04%) and non-aeronautical revenues (5.28%) were drowned out by a significant 34.31% drop in construction revenues over the period.
Elsewhere, EBITDA (Earnings before interest, taxes, depreciation and amortization) grew 1.68% over the quarter to $58.5 million.